Gold holds gains as oil flows recover, Treasury yields ease Roushni Nair Tue, October 6, 2026 at 9:30 PM EDT 2 min read GC=F -0.47% DX-Y.NYB +0.20% SI=F -0.75% PL=F -0.15% CL=F +0.91% Investing.com -- Gold prices held near $4,160 on Wednesday after rising 0.6% in the previous session, as improving oil supplies from the Middle East and a pullback in bond yields reduced pressure on the Federal Reserve to raise interest rates this month.
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At 20:46 ET (00:46 GMT), XAU/USD fell 0.1% to $4,160.49 an ounce, while Gold Futures rose 0.03% to $4,188.22. XAG/USD was little changed at $61.36, while XPT/USD fell 0.2% to $1,708.06. The U.S. Dollar Index rose 0.1% to 101.95.
Oil supplies from the Middle East have recovered to roughly four-fifths of pre-conflict levels, according to analysts and research firms, helping ease some concerns over an extended disruption to regional energy flows.
The improvement has helped stabilize oil prices and reduced some pressure on inflation and the Fed's rate outlook.
Iran has increased attacks on tankers in the Strait of Hormuz in recent days, while major oil executives have warned that the industry is running out of temporary measures to manage the disruption as the U.S.-Iran war approaches its eighth month.
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Treasury yields also retreated on Tuesday after longer-dated maturities surged to fresh multi-decade highs a day earlier.
The decline in yields has provided some support for gold by reducing the opportunity cost of holding the non-yielding metal.
Federal Reserve officials have continued to push back against the likelihood of an imminent rate increase.
Traders are now pricing in a less than 20% probability of an October hike, down from about 40% a week earlier.
Minutes from the Fed's September meeting are due later Wednesday.
Policymakers raised borrowing costs at that meeting for the first time in three years, and the minutes could offer fresh clues on the direction of policy.
Gold remains in a relatively tight range in October and is trading below several closely watched price averages.
The metal is also down more than 20% since the U.S.-Iran conflict began in late February, highlighting the sharp reversal from earlier gains.
Gold holds gains as oil flows recover, Treasury yields ease
Gold up slightly as dollar eases and bonds catch a bid, but gains capped by oil
